Measures to address the Covid-19 outbreak

On the 10th November, Mongolia has reported its first locally transmitted case of COVID-19. Since then, the number of domestic COVID-19 cases sharply increasing day by day.

Last week, on the 17th November, MNCCI has submitted policy recommendations to the Prime Minister’s Office regarding the Mongolian government and Parliament's immediate actions in response to the COVID-19 outbreak. The recommendations for managing economic and business risks during public readiness include four sets of policy actions to support and ensure the normal operation of the food sector; to provide citizens with income; neutralize the impact of the quarantine on the business; and restoring business operations.

The policy actions cover the exemption of businesses from corporate income tax, customs, VAT, and social and health insurance fees for the next six months; setting general import customs duties at zero percent from December 2020 through May 2021; allowing the deferral of utility payments for corporate entities, without penalty; and providing discounts on regular utility expenses, including electricity bills. MNCCI also stated that it is committed to working closely with the government in sharing best international practices and in mitigating COVID-19 impacts on the economy and businesses.

During the Cabinet's meeting on November 18, Prime Minister U. Khurelsukh announced 23 support measures that will be put in place for individuals and businesses during the COVID-19 outbreak.